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Lot 16 Sold: £300,000

101 High Street, Somersham, Huntingdon, Cambridgeshire PE28 3EE

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Lot 16   Click here for addendum

Freehold Commercial/Residential Investment – Convenience Store & Post Office + 5 Room Flat
6 Week Completion

Situation

Located close to the junction with Church Street in the heart of the village with a wide selection of local traders and a variety of independent retailers all serving the local community.
Somersham is an attractive village situated approximately 13 miles north of Cambridge and 10 miles west of Ely.

Property

A mid terrace Grade II Listed building comprising a Ground Floor Convenience Store & Post Office with separate front access through to a Self-Contained Flat on first and second floors. In addition, the property includes a Rear Garden with part covered metal patio.

Accommodation

Ground Floor Convenience Store & Post Office
Gross Frontage  36'0"
Internal Width     29'7"
Shop Depth        54'0"
Built Depth         75'3"
Area                    Approx. 2,000 sq ft
WC
First & Second Floor Flat
First Floor:
4 Rooms, Kitchen, Bathroom/WC (Area Approx. 1,140 sq ft)
Second Floor:
1 Room (Not Inspected)

VAT is NOT applicable to this Lot

FREEHOLD

 

Tenancy

The entire property is let on a full repairing and insuring lease to S. G. Gunasekara as a Costcutter, Off Licence and Post Office for a term of 15 years from 16th December 2023 (renewal of a previous 25 year lease) at a current rent of £24,000 per annum exclusive.

Rent Reviews 2028 & 2033

Enquire about this lot:

Photo of John Barnett

John Barnett
020 8492 9449
jbarnett@barnettross.co.uk

Photo of Steven Grossman

Steven Grossman
020 8492 9449
sgrossman@barnettross.co.uk

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

  • a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
  • b. A single price figure where the 'Reserve' is not to exceed it.
  • c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
  • d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.